badtoworse
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Mon Apr-18-11 01:34 PM
Response to Reply #24 |
| 26. LOL. Like they guaranteed payment on these bonds? |
| -Furious Greeks press for country to default on debt, Violence on the streets as backlash grows |
stockholmer |
Apr-18-11 12:47 PM |
#0 |
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So if they default, the bond holders on don't get paid |
Cali_Democrat |
Apr-18-11 12:51 PM |
#1 |
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Isn't that what Finnland is saying, too? |
aquart |
Apr-18-11 01:03 PM |
#4 |
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I think you mean Iceland, Finland (along with Sweden, Norway, Denmark) is doing well economically |
stockholmer |
Apr-18-11 01:22 PM |
#16 |
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Iceland. All those blonds look alike to me. |
aquart |
Apr-18-11 02:52 PM |
#49 |
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public debt is debt accumulated directly by a government, private debt is owed by people and firms |
stockholmer |
Apr-18-11 03:46 PM |
#57 |
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Yes. We have been robbed. Yet we hang no one. |
aquart |
Apr-18-11 11:13 PM |
#69 |
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Do you think things would be any better if the government is unable to borrow? |
badtoworse |
Apr-18-11 01:04 PM |
#5 |
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Yes, things would be much better. |
girl gone mad |
Apr-18-11 01:10 PM |
#7 |
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Unless they live within their means, that would not help |
badtoworse |
Apr-18-11 01:17 PM |
#11 |
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Look at Argentina's example. |
girl gone mad |
Apr-18-11 04:27 PM |
#58 |
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Greek 2 year bond yields just hit 20% today |
Cali_Democrat |
Apr-18-11 01:13 PM |
#8 |
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The risk of default is built into the high rates. Who is going to loan money with a high... |
yawnmaster |
Apr-18-11 01:16 PM |
#10 |
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Indeed. The people buying Greek debt knew what they were getting into |
Cali_Democrat |
Apr-18-11 01:20 PM |
#13 |
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Plenty of junk bond investors out there to eat these up |
sixmile |
Apr-18-11 01:24 PM |
#17 |
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"the yields are up because the bond prices are down". |
Cali_Democrat |
Apr-18-11 01:27 PM |
#22 |
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So in other words, it all works perfectly for |
truedelphi |
Apr-18-11 05:34 PM |
#67 |
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There is nothing more to it than simple math |
badtoworse |
Apr-18-11 08:38 PM |
#68 |
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Living without credit is very difficult for individuals and for governments |
badtoworse |
Apr-18-11 01:21 PM |
#14 |
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And Yet, Is So Very Liberating |
NashVegas |
Apr-18-11 01:38 PM |
#29 |
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The evidence does not support that claim. |
girl gone mad |
Apr-18-11 05:20 PM |
#66 |
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I don't think they are leeches, but they do know the risks. Interest rates are high because of... |
yawnmaster |
Apr-18-11 01:18 PM |
#12 |
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It isn't clear to me how they would manage with no credit. |
badtoworse |
Apr-18-11 01:24 PM |
#18 |
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You do know that bond investors would no longer lend Greece money, don't you? |
former9thward |
Apr-18-11 01:26 PM |
#19 |
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4 options |
Cali_Democrat |
Apr-18-11 01:34 PM |
#25 |
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They have to spend less money (austerity) |
badtoworse |
Apr-18-11 01:39 PM |
#30 |
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Austerity isn't the only option |
Cali_Democrat |
Apr-18-11 01:43 PM |
#31 |
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I would include raising taxes as part of an austerity package |
badtoworse |
Apr-18-11 01:46 PM |
#34 |
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Actually, there's an old maxim that says you lend money at your |
coalition_unwilling |
Apr-18-11 05:03 PM |
#63 |
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Whether a good choice or not... 5. dump the euro and print your own currency. |
yawnmaster |
Apr-18-11 02:01 PM |
#36 |
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What makes you think any foreign suppliers would accept it as payment? |
badtoworse |
Apr-18-11 02:20 PM |
#38 |
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it would likely have to be converted to euro and I would expect the exchange... |
yawnmaster |
Apr-18-11 02:33 PM |
#40 |
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It would work, provided they used restraint in managing the money supply |
badtoworse |
Apr-18-11 02:44 PM |
#45 |
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Can austerity be avoided? again this is coming from ignorance of the composition... |
yawnmaster |
Apr-18-11 02:48 PM |
#47 |
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um |
datan |
Apr-18-11 01:43 PM |
#32 |
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Probably because political leaders are economically naive. |
girl gone mad |
Apr-18-11 04:50 PM |
#61 |
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Ruh-roh. Nt |
xchrom |
Apr-18-11 12:52 PM |
#2 |
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Default may be the best long term option |
FLPanhandle |
Apr-18-11 12:55 PM |
#3 |
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The Greeks are wise to default |
sixmile |
Apr-18-11 01:06 PM |
#6 |
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They will have a choice. |
former9thward |
Apr-18-11 01:27 PM |
#21 |
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I disagree |
sixmile |
Apr-18-11 01:32 PM |
#24 |
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LOL. Like they guaranteed payment on these bonds? |
badtoworse |
Apr-18-11 01:34 PM |
#26 |
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I think Greece's problem stem from *never* having a large tax base |
muriel_volestrangler |
Apr-18-11 02:34 PM |
#41 |
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If it's tough to live within their means by borrowing |
FLPanhandle |
Apr-18-11 01:31 PM |
#23 |
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Isn't that what Iceland did? I am assuming their debt is to IMF? That |
jwirr |
Apr-18-11 01:14 PM |
#9 |
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The default has tanked Iceland's economy for the time being, but it was |
Lydia Leftcoast |
Apr-18-11 01:26 PM |
#20 |
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Good. I sounds like the default has given them another chance to |
jwirr |
Apr-18-11 01:36 PM |
#28 |
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They have fewer people than the city of Minneaoplis on an island the size of |
Lydia Leftcoast |
Apr-18-11 05:19 PM |
#65 |
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K&R |
leftstreet |
Apr-18-11 01:21 PM |
#15 |
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And the financiers are coming for us next. |
blindpig |
Apr-18-11 01:35 PM |
#27 |
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What do you mean "coming for us"? When it comes to fiscal policy, ... |
badtoworse |
Apr-18-11 01:44 PM |
#33 |
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So whose side are you on? |
blindpig |
Apr-18-11 02:00 PM |
#35 |
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I'm on the side that wants the country to survive intact |
badtoworse |
Apr-18-11 02:19 PM |
#37 |
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The country? What about the people? |
blindpig |
Apr-18-11 02:37 PM |
#42 |
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Thanks, I'll stick with the way things are laid out now |
badtoworse |
Apr-18-11 02:41 PM |
#44 |
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We work for the future or we stand against it. n/t |
blindpig |
Apr-18-11 02:50 PM |
#48 |
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Are those really the only two choices? on second thought, can there even be two choices?? |
yawnmaster |
Apr-18-11 02:54 PM |
#51 |
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The future is a world without capitalism. |
blindpig |
Apr-18-11 02:56 PM |
#53 |
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so your real question is, correct me if I'm wrong, please... |
yawnmaster |
Apr-18-11 03:00 PM |
#54 |
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That's about it. |
blindpig |
Apr-18-11 04:38 PM |
#59 |
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We don't need to borrow and we could pay off our debts tomorrow. |
girl gone mad |
Apr-18-11 04:53 PM |
#62 |
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Hunh? Exactly what promises have we made that we can't afford |
coalition_unwilling |
Apr-18-11 05:10 PM |
#64 |
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hm |
datan |
Apr-18-11 02:29 PM |
#39 |
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Why would I do that? |
blindpig |
Apr-18-11 02:39 PM |
#43 |
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Whatever you are, I'm glad you are not running things |
badtoworse |
Apr-18-11 02:47 PM |
#46 |
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What, you got a problem with sharing? |
blindpig |
Apr-18-11 02:53 PM |
#50 |
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I share lots of things - both my time and money |
badtoworse |
Apr-18-11 03:06 PM |
#55 |
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Most of the Greek debt is held by the Greek banks. I don't have knowledge beyond that on who... |
yawnmaster |
Apr-18-11 02:56 PM |
#52 |
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right |
datan |
Apr-18-11 03:29 PM |
#56 |
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Blow off the debt. n/t |
blindpig |
Apr-18-11 04:40 PM |
#60 |
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I remember two articles from the NYT... |
BlueCheese |
Apr-18-11 11:54 PM |
#70 |
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